Lesson 5: Sales Techniques and Practices

Question 1

triggering terms

Answer 1

If an ad contains one of the “triggering terms” specified by the act, the ad must include other required disclosures. If the ad doesn’t have a “triggering term,” no disclosures need to be made.

Triggering terms include:

the amount of the downpayment (“10% down”),
the amount of any payment (“Only $1,500 per month”),
the number of payments (“360 monthly payments”),
the amount of any finance charge (“1% origination fee”), and
the period of repayment (“30-year financing available”).

Question 2

Floor duty

Answer 2

Floor duty means that one agent is assigned to handle telephone calls and office visits for a particular time period.